Frequently Asked Questions
Q: Can the issuer change the rules for a token?
A: Yes. Provided the token is set to ‘reissuable’ when created, the token rules can be changed.
Q: Can the XBTX address holder remove the IPFS File bound to a token?
A: No, only the qualifier can add or remove that by signing a transaction with their private key.
Q: Is XBTX a secure chain to issue tokens and other assets?
A: XBTX uses proof-of-work to secure the blockchain, and added NLR to protect the blockchain from 51% attacks. The blockchain can’t be automatically rewritten by a hidden mining attack after sixty confirmations.
Q: How does XBTX make money?
A: XBTX is not a company, it is ideas expressed in open-source code. It is also a network of folks choosing to run the XBTX software. XBTX doesn’t make money or charge any fees. You can download and run XBTX at no charge.
Q: How scalable is XBTX?
A: At the time of this writing, there are no scalability issues. XBTX has 20 times the transaction capacity of Bitcoin.
Q: Now that all these ideas have been coded, and since XBTX is open-source, can I just copy it?
A: Yes, you can copy the code by cloning or forking the Github Repo. What you can’t easily copy is the community of volunteers, miners, exchanges, tools, browsers, wallets, projects, and supporters of the project.
Q: Can the issuer change the rules for a token?
A: Yes. Provided the token is set to ‘reissuable’ when created, the token rules can be changed.
Q: Can the XBTX address holder remove the IPFS File bound to a token?
A: No, only the qualifier can add or remove that by signing a transaction with their private key.
Q: Is XBTX a secure chain to issue tokens and other assets?
A: XBTX uses proof-of-work to secure the blockchain, and added NLR to protect the blockchain from 51% attacks. The blockchain can’t be automatically rewritten by a hidden mining attack after sixty confirmations.
Q: How does XBTX make money?
A: XBTX is not a company, it is ideas expressed in open-source code. It is also a network of folks choosing to run the XBTX software. XBTX doesn’t make money or charge any fees. You can download and run XBTX at no charge.
Q: How scalable is XBTX?
A: At the time of this writing, there are no scalability issues. XBTX has 20 times the transaction capacity of Bitcoin.
Q: Now that all these ideas have been coded, and since XBTX is open-source, can I just copy it?
A: Yes, you can copy the code by cloning or forking the Github Repo. What you can’t easily copy is the community of volunteers, miners, exchanges, tools, browsers, wallets, projects, and supporters of the project.